Business
Fuel Cell Manufacturing
Fuel Cell Manufacturing.
About this update from Ceres Power Holdings Plc
[{"type":"text","content":"\n Ceres Power Holdings plc\n16 May 2007\n\n\n\nPress Release for 16 May 2007 - FINAL\n\n\n Ceres Power Holdings plc\n ('Ceres', 'Ceres Power' or the 'Company')\n\n Ceres secures regional development agency funding for\n\n fuel cell manufacturing process development\n\n\nCeres Power, the AIM-quoted fuel cell group, today announces that it has been\nsuccessful in securing a £0.5 million Exceptional Development grant from SEEDA,\nthe South East England Development Agency. SEEDA has awarded Ceres this grant\nthrough a national DTI programme, to assist with the advance of new technology\nthat is strategically important to the UK.\n\nThe grant will be used towards the development and commissioning of fuel cell\nmanufacturing machinery and processes in Ceres Power's Product Facility which is\non track to begin this summer. The Product Facility will enable Ceres to\nvalidate key fuel cell manufacturing processes prior to the Company's planned\ninvestment in a mass manufacturing plant (the 'Mother Plant') in 2008.\n\nThe Company's strategy is to reduce risks en route to mass production,\nsimultaneously with its product development programme. Through this concurrent\napproach, trials of the Company's CHP products benefit from incorporating fuel\ncells manufactured using commercially viable scalable processes.\n\nOver the past two years, Ceres has successfully recruited key employees to\nmanage its manufacturing, engineering, procurement and quality functions to\nensure a smooth transition to the automated manufacture of its fuel cell\ntechnology in preparation for mass production.\n\n\nPeter Bance, CEO of Ceres Power, comments:\n\n'We are delighted to be awarded this valuable grant to help us de-risk the mass\nmanufacture of our fuel cells prior to investment in the Mother Plant in 2008.\nThe Product Facility will help us to develop the capability to deliver cost\neffective, high quality end-products for what we anticipate could be very high\nmarket demand.'\n\n\nJeff Alexander, Executive Director Global Competitiveness at SEEDA, comments:\n\n'This commitment illustrates how the South East of England has positioned itself\nfor the high-growth, leading-edge technology, alternative energy sector. We are\npleased to be able to support a world-class business like Ceres Power whose\nunique technology has the potential to address the long-ter...